Actor Ryan Reynolds‘ reported windfall of over $270 million T-Mobile US Inc.‘S TMUS planned acquisition of mint mobile could be in danger.
What happened: In March, T-Mobile announced its plans to acquire Mint Mobile, owned by the “Deadpool” actor.
However, the Department of Justice (DOJ) could intervene and block the sale due to antitrust concerns, the New York Post reported on Thursday.
The DOJ’s Antitrust Division is reportedly considering a lawsuit to stop this happening The $1.35 billion acquisition of T-Mobileciting fears it could lead to a consolidation trend that could push up prices for mobile subscribers.
According to the Post, insiders believe the motive behind pursuing Mint Mobile is to set an example for a high-profile celebrity deal. Columbia law professor and securities expert John Coffee told the newspaper that regulators have used similar tactics to prosecute public figures before.
“Now everyone in Hollywood will notice,” Coffee said.
Earlier this week, Reynolds, who recently invested in Canadian payments company Nuvei, said his main strategy is focused on creating a strong brand, according to the Post. But critics are skeptical whether branding a prepaid phone service will translate into cost savings for consumers, the Post noted.
Reynolds acquired a partial interest in Mint Mobile in 2019.
Continue reading: Ryan Reynolds’ Cell Phone Company Receives $1.35 Billion T-Mobile Buyout: Will He Use This Money to Buy an NHL Team?
Photo: Shutterstock
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